STLE
Steele Bancorp Inc.28.25
+0.25+0.89%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
52.50MP/E (TTM)
11.72Basic EPS (TTM)
2.41Dividend Yield
0.05%Recent Filings
8-K
10-Q
Q3 FY2025 results
Steele Bancorp's Q3 FY2025 results surged on the August 1, 2025, merger with Northumberland Bancorp, closed for $40.4M in stock and cash, recognizing a $17.8M bargain purchase gain and $14.7M core deposit intangible amortized over 10 years. Net interest income climbed 129% y/y to $9.9M, with net interest margin expanding to 3.97% from 3.17%, driven by higher loan yields and balances post-merger; yet a $4.2M provision for credit losses (derived) reflected acquisition adjustments. Noninterest income ballooned to $19.1M, fueled by the gain, while expenses rose 275% to $10.9M from merger costs and staffing. Liquidity strengthened with $54M in cash equivalents and $472M FHLB availability, against $8M advances and $9.8M subordinated debt maturing 2031 at 4.5%. Merger integration boosts scale in central Pennsylvania. Regulatory scrutiny on capital ratios persists amid rising rates.
8-K
Merger boosts Q3 earnings sharply
Steele Bancorp completed its merger with Northumberland Bancorp on August 1, 2025, for $40.5 million in total consideration, issuing 1,546,725 shares at $26.00 each and recording a $17.8 million bargain purchase gain alongside a $14.2 million core deposit intangible. This drove third-quarter net income to $13.7 million, up 890.4% from $1.4 million last year, with net interest income surging 129.3% to $9.9 million on expanded loans and securities. Merger costs hit $4.1 million year-to-date. Integration challenges may delay full benefits.
8-K
Dividend schedule update post-merger
Steele Bancorp, Inc. updated its dividend schedule post-merger, shifting to semi-annual payments in June and December, aligning with Mifflinburg Bancorp's tradition of 153 consecutive years of payouts. This consolidates former Northumberland Bancorp's quarterly dividends, with 2024's annual dividend at $1.45 per share and 2025 at $0.74 through June. The move supports integration while committing to sustainable shareholder returns. Forward-looking statements highlight risks like economic conditions and interest rates.
10-Q
Q2 FY2025 results
Steele Bancorp posted solid Q2 FY2025 results, with net income climbing 37.6% year-over-year to $1.8M, or $0.98 per diluted share, fueled by robust loan growth and higher yields. Net interest income rose 24.0% y/y to $4.99M, driven by a 7.2% expansion in loans to $467.6M (derived), while the net interest margin widened to 3.41% from 2.96%. Noninterest income edged up 27.0% y/y to $527K on stronger service charges, though merger expenses of $85K weighed on the $3.13M noninterest expense line. Liquidity strengthened with cash equivalents at $21.0M and $155M available FHLB capacity, supporting $47.1M in advances at a blended 4.76% rate. The pending Northumberland merger, closed August 1, 2025, for a 1.1850 share exchange ratio, promises tax-free synergies. Yet competition in Northcentral Pennsylvania could pressure deposit pricing.
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